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Friday 6 November 2026
Export PACS’s income statement to Excel — free account
PACS Group, Inc.
PACS Healthcare Medical Care Facilities
PACS Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.3 billion, up 29.3% from fiscal 2024.
- Revenue
- +11.5%
- EPS
- +16.4%
- Free cash flow
- −4.31%
- Total debt
- +7.48%
Quarter to September 2026, against a year earlier
50.09
0.17
−0.34%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 1,167 | 2,422 | 3,111 | 4,090 | 5,289 | 5,705 | +45.9% | 5,851 | 6,544 | 7,127 | +10.5% | |
| Gross margin, % | — | — | — | — | — | 16.06 | 16.54 | 14.37 | 12.41 | 14.75 | 17.11 | (1.3) pt | ||||||
| EBT | — | — | — | — | — | 81 | 207 | 157 | 102 | 284 | 398 | +36.7% | ||||||
| EBT margin, % | — | — | — | — | — | 6.98 | 8.55 | 5.06 | 2.48 | 5.38 | 6.97 | (1.6) pt | ||||||
| Net income | — | — | — | — | — | 48 | 150 | 113 | 55 | 191 | 278 | +41.4% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 9.06 | 18.82 | 24.17 | 27.89 | 33.86 | 36.02 | +39.0% | |||||
| Earnings | — | — | — | — | — | 0.37 | 1.17 | 0.88 | 0.38 | 1.23 | 1.75 | +34.8% | ||||||
| Cash flow | — | — | — | — | — | 0.45 | 0.72 | 0.49 | 2.50 | 2.59 | 3.66 | +55.1% | ||||||
| Capex | — | — | — | — | — | (0.96) | (0.18) | (0.35) | (0.44) | (0.67) | (0.83) | (8.7%) | ||||||
| Free cash flow | — | — | — | — | — | (0.52) | 0.54 | 0.15 | 2.06 | 1.92 | 2.83 | n/m | ||||||
| Book value | — | — | — | — | — | 0.00 | 0.53 | 0.79 | 4.88 | 6.10 | 7.70 | n/m | ||||||
| Shares, m | — | — | — | — | — | 129 | 129 | 129 | 147 | 156 | 157 | +5.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 26.89 | 26.89 | 26.89 | 32.20 | 31.47 | 28.56 | 28.9 | |||||
| P/S | — | — | — | — | — | 0.89 | 0.89 | 0.89 | 0.47 | 1.13 | 1.39 | 0.9 | ||||||
| P/B | — | — | — | — | — | 22.16 | 22.16 | 22.16 | 2.69 | 6.30 | 6.51 | 15.1 | ||||||
| EV/Sales | — | — | — | — | — | 1.10 | 1.10 | 1.10 | 0.50 | 1.16 | 1.42 | 1.0 | ||||||
| EV/FCF | — | — | — | — | — | (546.96) | (546.96) | (546.96) | 6.72 | 20.52 | 18.04 | (322.7) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 58 | 93 | 64 | 367 | 404 | 580 | +62.8% | |||||
| Capex | — | — | — | — | — | (124) | (23) | (45) | (65) | (105) | (131) | (4.2%) | ||||||
| Free cash flow | — | — | — | — | — | (66) | 70 | 19 | 302 | 300 | 448 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 27 | 265 | (40) | 68 | (236) | +35.8% | |||||
| Net debt | — | — | — | — | — | — | 441 | 659 | 108 | 152 | 157 | (29.9%) | ||||||
| Shareholders’ equity | — | — | — | — | — | — | 69 | 102 | 716 | 952 | 1,219 | +140.3% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | 12.23 | 3.78 | 1.27 | 3.54 | 4.81 | +3.5 pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 28.10 | 17.07 | 9.34 | 17.52 | 19.25 | +17.5 pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 0.00 | 132.50 | 13.64 | 22.96 | 26.49 | +23.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 32,433 | 45,680 | 47,455 | — | +21.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 0.10 | 0.09 | 0.11 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Reportable Segment | 5,289 | 100.00% |
|---|---|---|
| Gross margin | 14.75% | |
| Operating margin | 5.85% | |
| Pre-tax margin | 5.38% |
PACS Group, Inc. vs peers in Medical Care Facilities (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| FMS Fresenius Medical Care AG & Co. KGaA | $12.6B | 12.6× | 14.4× | −0.49% (below 0%: shrinking) | −10.55% (below 0%: shrinking) | −3.47% (below 0%: shrinking) | 25.83% | 7.78% | Compare |
| DVA DaVita Inc. | $12.3B | 14.0× | 13.0× | +4.62% (above 0%: growing) | +66.99% (above 0%: growing) | −45.83% (below 0%: shrinking) | 31.50% | 13.95% | Compare |
| UHS Universal Health Services, Inc. | $11.7B | 8.2× | 8.0× | +5.30% (above 0%: growing) | −9.98% (below 0%: shrinking) | +216.74% (above 0%: growing) | 90.99% | 9.60% | Compare |
| ENSG The Ensign Group, Inc. | $10.6B | 26.3× | 25.4× | +14.47% (above 0%: growing) | +23.64% (above 0%: growing) | +89.21% (above 0%: growing) | 16.86% | 9.30% | Compare |
| PACS PACS Group, Inc. | $8.0B | 28.6× | 21.8× | +11.45% (above 0%: growing) | +16.36% (above 0%: growing) | −4.31% (below 0%: shrinking) | 17.23% | 6.65% | |
| CHE Chemed Corporation | $7.0B | 25.5× | 24.0× | +10.57% (above 0%: growing) | +23.09% (above 0%: growing) | −45.25% (below 0%: shrinking) | 33.72% | 13.96% | Compare |
| CON Concentra Group Holdings Parent, Inc. | $5.4B | 24.9× | 25.2× | +8.61% (above 0%: growing) | +36.84% (above 0%: growing) | −19.76% (below 0%: shrinking) | 31.42% | 18.52% | Compare |
| LFST LifeStance Health Group, Inc. | $5.1B | 70.7× | 81.1× | +25.30% (above 0%: growing) | +2,042.86% (above 0%: growing) | +31.57% (above 0%: growing) | 0.00% | 7.26% | Compare |
| OPCH Option Care Health, Inc. | $4.7B | 22.6× | 21.2× | +4.08% (above 0%: growing) | +19.81% (above 0%: growing) | −17.04% (below 0%: shrinking) | 19.08% | 5.97% | Compare |
| Median of peers | $8.8B | 23.8× | 22.6× | +6.96% | +23.37% | −10.25% | 28.63% | 9.45% |
From the latest earnings call
- CEO Jason Murray said the existing portfolio drove the quarter’s performance, with higher occupancy and skilled mix contributing to margin improvement as facilities mature.
- CFO Carey Hendrickson said the raised annual outlook includes a modest contribution from newly acquired Texas facilities but excludes pending acquisitions and uncertain supplemental payments.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
31.27%
Held by the ten largest
22.30%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| COHEN & STEERS, INC. | 8.34m | 5.27% | −779.75k |
| Fidelity (FMR) | 6.21m | 3.92% | +959.48k |
| Vanguard | 4.22m | 2.67% | +180.82k |
| BlackRock | 4.16m | 2.62% | +380.12k |
| Crewe Advisors LLC | 3.31m | 2.09% | +553.01k |
| American Century | 3.11m | 1.96% | +1.30m |
| Ameriprise (Columbia Threadneedle) | 2.00m | 1.26% | +873.73k |
| Alyeska Investment Group, L.P. | 1.54m | 0.97% | −1.46m |
| Dimensional Fund Advisors | 1.23m | 0.78% | +450.57k |
| Geode Capital Management | 1.21m | 0.76% | +94.93k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 28 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 17.07m | 17.97m | 167.00 |
| 2024 | 5.04m | 5.04m | 57.00 |
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Read the proxy statement
PACS Group, Inc. (PACS) Latest News
16 Oct
2 Sep
15 Aug
5 Aug
4 Aug
14 May
12 May
11 May
PACS metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Beneish M-score
PACS Group is a post-acute healthcare company focused on skilled nursing care. Its facilities serve people who need nursing and other inpatient services after a hospital stay, as well as people who need longer-term custodial care. Some communities also offer senior care, assisted living and independent living.
Skilled nursing facilities sit between hospitals and lower-acuity settings such as assisted living or care at home. They can provide around-the-clock inpatient services to patients recovering from illnesses, acute conditions or medical procedures. PACS primarily focuses on short-term transitional care for patients with more complex needs.